- 2012 Exploration Season Underway
- New Exploration Target
- Exploration Update
After a highly successful 2011 exploration program, Corazon is pleased to report its 2012 exploration season at the Lynn Lake nickel sulphide project in Canada has already commenced.
The Company’s next phase of drilling will involve a 4,500 metre core drilling program, which is expected to be completed by the end of May. The results will be used to produce a significant resource upgrade, scheduled for completion around mid year.
Drilling will focus on testing the Lower Zone at the EL Deposit within the Lynn Lake project, which hosts the high-grade nickel-copper sulphide system discovered in May last year. The discovery hole intersected a spectacular 23.75 metres @ 3.34% nickel, 1.54% copper and 0.079% cobalt (from 731.25 metres downhole).
This outstanding result was backed up by the Company’s subsequent drill results in 2011, and confirmed the Lynn Lake discovery as a major new high-grade nickel-copper sulphide deposit.
The EL Deposit is a significant and attractive exploration target. Historically, mines at Lynn Lake were large-tonnage, low-cost operations. The area was mined for 23 years (until 1976) and produced average grades of 1% nickel and 0.5% copper. Some of these mines were developed to depths of 1,200 metres below surface. Bulk mining of these wide zones of mineralisation resulted in low operating costs and attractive operating margins.
Results from the current phase of drilling will be released to the market as they become available.
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